Robinhood 3% IRA Match

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MichDad
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Re: Robinhood 3% IRA Match

Post by MichDad »

razor488 wrote: Mon Apr 01, 2024 7:41 am Has anyone asked another brokerage to match the RH offer? I asked Schwab and I am waiting to hear back.
I asked both Schwab and Merrill Edge and they offered tiny retention bonuses.

MichDad
LSLover
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Re: Robinhood 3% IRA Match

Post by LSLover »

MichDad wrote: Mon Apr 01, 2024 7:47 am
razor488 wrote: Mon Apr 01, 2024 7:41 am Has anyone asked another brokerage to match the RH offer? I asked Schwab and I am waiting to hear back.
I asked both Schwab and Merrill Edge and they offered tiny retention bonuses.

MichDad
Fidelity didn’t offer anything.
veggivet
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Re: Robinhood 3% IRA Match

Post by veggivet »

Fido offered a pittance and Schwab didn't even respond. Nobody out there will match RH at this time.
nalor511
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Re: Robinhood 3% IRA Match

Post by nalor511 »

razor488 wrote: Mon Apr 01, 2024 7:41 am Has anyone asked another brokerage to match the RH offer? I asked Schwab and I am waiting to hear back.
Schwab has already said no, and I've had them refuse to match many worse offers. I wouldn't waste your time
tj
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Re: Robinhood 3% IRA Match

Post by tj »

nalor511 wrote: Mon Apr 01, 2024 10:55 am
razor488 wrote: Mon Apr 01, 2024 7:41 am Has anyone asked another brokerage to match the RH offer? I asked Schwab and I am waiting to hear back.
Schwab has already said no, and I've had them refuse to match many worse offers. I wouldn't waste your time
I've had Schwab match reasonable offers (*E Trade $1k for $200k in Roth, Citi $500 for $50k in brokerage), but I never would have even tried having Schwab or literally anybody else match the Robin Hood 3% offer. That would be insane.
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SeanATX
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Anyone Transferring IRA for RobinHood 3% Bonus?

Post by SeanATX »

[Thread merged into here --admin LadyGeek]

I have a low opinion of RobinHood. But the 3% match on IRA transfers is tempting and real money for those of us with significant IRA balances. I can't quite pull the trigger though, Vanguard just feels better despite the potential windfall. Irrational?

Here is a nice summary of what's on offer until the end of April: https://www.forbes.com/sites/robertberg ... 53c8d25131

I've not found much about it on the forum, I apologize if I'm missing some huge thread.
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arcticpineapplecorp.
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Re: Anyone Transferring IRA for RobinHood 3% Bonus?

Post by arcticpineapplecorp. »

SeanATX wrote: Mon Apr 01, 2024 3:32 pm I have a low opinion of RobinHood. But the 3% match on IRA transfers is tempting and real money for those of us with significant IRA balances. I can't quite pull the trigger though, Vanguard just feels better despite the potential windfall. Irrational?

Here is a nice summary of what's on offer until the end of April: https://www.forbes.com/sites/robertberg ... 53c8d25131

I've not found much about it on the forum, I apologize if I'm missing some huge thread.
yeah, here's 33 page discussion on it:
viewtopic.php?t=410277

that'll keep you busy for awhile!
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SeanATX
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Re: Anyone Transferring IRA for RobinHood 3% Bonus?

Post by SeanATX »

Oops, I figured there must be, thanks so much.
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LadyGeek
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Re: Robinhood 3% IRA Match

Post by LadyGeek »

I merged SeanATX's thread into the ongoing discussion.

(Thanks to the member who reported the post and provided a link to this thread.)
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tcrez
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Re: Robinhood 3% IRA Match

Post by tcrez »

My RH account was deactivated years ago because I transferred everything out. I want to try RH again to get the 3% match on IRAs.

I tried creating a RH using a new email address but it associated me with the old one (probably due to the SSN) so I was blocked from doing so.

I went into the account settings and sent the reactivation request. Now it says they're reviewing it. Has anyone done this and how long did it take?

Anyone have any other ways to get a new account?
tj
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Re: Robinhood 3% IRA Match

Post by tj »

tcrez wrote: Mon Apr 01, 2024 5:58 pm My RH account was deactivated years ago because I transferred everything out. I want to try RH again to get the 3% match on IRAs.

I tried creating a RH using a new email address but it associated me with the old one (probably due to the SSN) so I was blocked from doing so.

I went into the account settings and sent the reactivation request. Now it says they're reviewing it. Has anyone done this and how long did it take?

Anyone have any other ways to get a new account?


You just have to be patient and deal with their customer service. There are no shortcuts. That is the process.
tcrez
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Re: Robinhood 3% IRA Match

Post by tcrez »

I found other posts saying it took more than a month and customer service was hard to reach.

If so, should I just not waste time on this because the promotion ends end of April?

WDYT?
stilllurking
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Re: Robinhood 3% IRA Match

Post by stilllurking »

tcrez wrote: Mon Apr 01, 2024 6:13 pm I found other posts saying it took more than a month and customer service was hard to reach.

If so, should I just not waste time on this because the promotion ends end of April?

WDYT?
Could you not just use a different email address to register?
nalor511
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Re: Robinhood 3% IRA Match

Post by nalor511 »

tcrez wrote: Mon Apr 01, 2024 6:13 pm I found other posts saying it took more than a month and customer service was hard to reach.

If so, should I just not waste time on this because the promotion ends end of April?

WDYT?
Try live chat or callback to speak with someone in real time. RH has more promos coming in may (1% taxable bonus with 2yr payout, 3% credit card)
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whodidntante
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Re: Robinhood 3% IRA Match

Post by whodidntante »

tcrez wrote: Mon Apr 01, 2024 6:13 pm I found other posts saying it took more than a month and customer service was hard to reach.

If so, should I just not waste time on this because the promotion ends end of April?

WDYT?
I guess I don't see the harm in asking them to reopen your account. They are not hard to reach.

I'll add that the support requests don't seem to follow a queue. So it might help if you make your support request interesting/clickbaity. E.g., Reopen my account and I'll transfer 800 grand!
Last edited by whodidntante on Mon Apr 01, 2024 7:34 pm, edited 1 time in total.
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Re: Robinhood 3% IRA Match

Post by whodidntante »

razor488 wrote: Mon Apr 01, 2024 7:41 am Has anyone asked another brokerage to match the RH offer? I asked Schwab and I am waiting to hear back.
I wouldn't hold my breath. If you add up every dollar at Robinhood, the result is a rounding error to Schwab. Even though Robinhood is large now, Schwab is gigantic.
tj
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Re: Robinhood 3% IRA Match

Post by tj »

stilllurking wrote: Mon Apr 01, 2024 6:19 pm
tcrez wrote: Mon Apr 01, 2024 6:13 pm I found other posts saying it took more than a month and customer service was hard to reach.

If so, should I just not waste time on this because the promotion ends end of April?

WDYT?
Could you not just use a different email address to register?
They literally did that, but no, it's tied to your SSN.
razor488
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Re: Robinhood 3% IRA Match

Post by razor488 »

I asked Schwab if they would match and they offered me $5,000 per 2M transferred. I was offering to bring low 8 figures.
tj
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Re: Robinhood 3% IRA Match

Post by tj »

razor488 wrote: Mon Apr 01, 2024 8:54 pm I asked Schwab if they would match and they offered me $5,000 per 2M transferred. I was offering to bring low 8 figures.
So they'd give you $25,000 for $10,000,000 ?

That's not bad. Of course, Robinhood would give you $300,000. :)
stay_the_course
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Re: Robinhood 3% IRA Match

Post by stay_the_course »

tcrez wrote: Mon Apr 01, 2024 5:58 pm My RH account was deactivated years ago because I transferred everything out. I want to try RH again to get the 3% match on IRAs.

I tried creating a RH using a new email address but it associated me with the old one (probably due to the SSN) so I was blocked from doing so.

I went into the account settings and sent the reactivation request. Now it says they're reviewing it. Has anyone done this and how long did it take?

Anyone have any other ways to get a new account?
My account was reactivated in a day. But this was a month or so back, I don't know if all the recent interest in this promotion has backlogged their customer support.
felizcortez
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Re: Robinhood 3% IRA Match

Post by felizcortez »

If you do take advantage of the 1k of Margin with gold. How does the payment of the monthly fee for the gold subscription work since you would have to have 2k invested plus the 1k of margin invested. Does it automatically sell some of assets if you put it in SGOV? I'm debating on whether it's worth the extra 50 bucks for my wife and I to do this.
Subvisual
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Re: Robinhood 3% IRA Match

Post by Subvisual »

felizcortez wrote: Wed Apr 03, 2024 12:58 pm If you do take advantage of the 1k of Margin with gold. How does the payment of the monthly fee for the gold subscription work since you would have to have 2k invested plus the 1k of margin invested. Does it automatically sell some of assets if you put it in SGOV? I'm debating on whether it's worth the extra 50 bucks for my wife and I to do this.
Leave like $50-100 of that free margin unused, then RH will pull the monthly fee from your unused margin buying power. Similarly your monthly dividends from SGOV will add into the unused margin buying power. They shouldn't sell shares unless you trigger a margin call.

Keeping like $50-100 of your free margin unused should help you avoid annoying warnings that you are getting close to margin call danger when SGOV is in its ~1 week window where its drops in value ex-div but it hasn't yet paid out the div.
MillionaireMentality
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Re: Robinhood 3% IRA Match

Post by MillionaireMentality »

I'm contemplating rolling over mine and the wife's Roth IRA's from Fidelity to Robinhood for the 3% match before the end of April.

We have about $200k combined so we're looking at about $6k in match.

Our Roth IRA money was contributed via a combination of backdoor Roth and mega backdoor Roth over the last 6 years.

I have a few questions for those smarter than me on here:

1) Can you withdraw the money from current Roth IRA if its funded via a backdoor conversion and send to another Roth IRA without any penalty? My understanding is the converted money is subject to a 5 year withdrawal rule.

2) Our largest holding in our Roth IRAs is FZROX so we will need to sell those funds to move over to Robinhood. Any special considerations or concerns here other than being out of the market for the few days it takes to complete the rollover?

3) Since you forfeit the IRA match by doing a backdoor conversion at Robinhood, my 2025 and future IRA contributions/conversions will happen at Fidelity unless Robinhood changes their policy. Anything else I should consider?
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runr
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Re: Robinhood 3% IRA Match

Post by runr »

tcrez wrote: Mon Apr 01, 2024 5:58 pm My RH account was deactivated years ago because I transferred everything out. I want to try RH again to get the 3% match on IRAs.

I tried creating a RH using a new email address but it associated me with the old one (probably due to the SSN) so I was blocked from doing so.

I went into the account settings and sent the reactivation request. Now it says they're reviewing it. Has anyone done this and how long did it take?

Anyone have any other ways to get a new account?
I did that as well, after 2 business days I I/M them to manually reactivate account, in which they spoke to the back office, 1 hour later it was reactivated.
Last edited by runr on Wed Apr 03, 2024 3:36 pm, edited 1 time in total.
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nalor511
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Re: Robinhood 3% IRA Match

Post by nalor511 »

MillionaireMentality wrote: Wed Apr 03, 2024 3:00 pm I'm contemplating rolling over mine and the wife's Roth IRA's from Fidelity to Robinhood for the 3% match before the end of April.

We have about $200k combined so we're looking at about $6k in match.

Our Roth IRA money was contributed via a combination of backdoor Roth and mega backdoor Roth over the last 6 years.

I have a few questions for those smarter than me on here:

1) Can you withdraw the money from current Roth IRA if its funded via a backdoor conversion and send to another Roth IRA without any penalty? My understanding is the converted money is subject to a 5 year withdrawal rule.
You're not withdrawing, you're transferring, it's fine.
2) Our largest holding in our Roth IRAs is FZROX so we will need to sell those funds to move over to Robinhood. Any special considerations or concerns here other than being out of the market for the few days it takes to complete the rollover?
Sell at Fidelity and buy VTI right away. In 2 days start your transfer. No time out of market
3) Since you forfeit the IRA match by doing a backdoor conversion at Robinhood, my 2025 and future IRA contributions/conversions will happen at Fidelity unless Robinhood changes their policy. Anything else I should consider?
No.
sycamore
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Re: Robinhood 3% IRA Match

Post by sycamore »

MillionaireMentality wrote: Wed Apr 03, 2024 3:00 pm 1) Can you withdraw the money from current Roth IRA if its funded via a backdoor conversion and send to another Roth IRA without any penalty? My understanding is the converted money is subject to a 5 year withdrawal rule.
"to another Roth IRA" - please clarify to avoid misunderstanding.

Do you mean another Roth IRA at Robinhood? I wonder why you'd bother doing this?

Or do you mean another Roth IRA with a different custodian?
lemonPepper
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Re: Robinhood 3% IRA Match

Post by lemonPepper »

I am debating doing this with our two Roth IRAs at Vanguard (total around $150k), but I'm scared about the difficulties I may encounters. We only have Vanguard mutual funds in those IRAs. I have done a number of bank account bonuses many years ago and stopped doing it when I had to do repeated follow ups with citibank for the gold bonuses.
nalor511
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Re: Robinhood 3% IRA Match

Post by nalor511 »

lemonPepper wrote: Wed Apr 03, 2024 6:42 pm I am debating doing this with our two Roth IRAs at Vanguard (total around $150k), but I'm scared about the difficulties I may encounters. We only have Vanguard mutual funds in those IRAs. I have done a number of bank account bonuses many years ago and stopped doing it when I had to do repeated follow ups with citibank for the gold bonuses.
Call to convert mf to ETF. Wait 2 days. Transfer. That's it. I had no hiccups regarding the IRA transfers, everything was quick and painless. Only hiccup was delayed margin approval in taxable
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runr
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Re: Robinhood 3% IRA Match

Post by runr »

Wondering if anyone is using there spending account?
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SJR
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Re: Robinhood 3% IRA Match

Post by SJR »

MillionaireMentality wrote: Wed Apr 03, 2024 3:00 pm
2) Our largest holding in our Roth IRAs is FZROX so we will need to sell those funds to move over to Robinhood. Any special considerations or concerns here other than being out of the market for the few days it takes to complete the rollover?
You can place a sell order with a trader by phone right before the market close and simultaneously have the trader purchase the equivalent ETF against the value of the sell order. Fidelity will allow you to leverage up to 90 percent of the current value of the sell order for that purpose and will waive their trading fee. You can then trade the remaining 10 percent online at the market open the following morning.

That's as close as you can get to not being out of the market. Then proceed to initiate the transfer to RH.
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whodidntante
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Re: Robinhood 3% IRA Match

Post by whodidntante »

runr wrote: Wed Apr 03, 2024 7:41 pm Wondering if anyone is using there spending account?
Is there a bonus? :P
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nps
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Re: Robinhood 3% IRA Match

Post by nps »

tj wrote: Wed Feb 14, 2024 1:59 pm
FreeLunch wrote: Wed Feb 14, 2024 1:51 pm Robinhood reported 4Q 2023 results. The retirement 3% on rollover deal started in January. Therefore, it won't be until 1Q24 earnings post in approximately three months that we will see the affect of their latest promo.

The new retirement users could be do to the other promos they ran previously. For example, 3% on contributions and not rollover.

I am very curious to see what they report for the 2nd quarter.
They reported that over 25,000 people transferred retirement assets into Robinhood last quarter. Seems really low given 11 million monthly active users and over 23 million funded accounts.
Leesbro63
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Re: Robinhood 3% IRA Match

Post by Leesbro63 »

whodidntante wrote: Wed Apr 03, 2024 9:09 pm
runr wrote: Wed Apr 03, 2024 7:41 pm Wondering if anyone is using there spending account?
Is there a bonus? :P
What is their "spending account"?
MillionaireMentality
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Re: Robinhood 3% IRA Match

Post by MillionaireMentality »

sycamore wrote: Wed Apr 03, 2024 4:48 pm
MillionaireMentality wrote: Wed Apr 03, 2024 3:00 pm 1) Can you withdraw the money from current Roth IRA if its funded via a backdoor conversion and send to another Roth IRA without any penalty? My understanding is the converted money is subject to a 5 year withdrawal rule.
"to another Roth IRA" - please clarify to avoid misunderstanding.

Do you mean another Roth IRA at Robinhood? I wonder why you'd bother doing this?

Or do you mean another Roth IRA with a different custodian?
I meant withdraw my Roth IRA money at Fidelity to send it a Roth IRA at Robinhood
MillionaireMentality
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Re: Robinhood 3% IRA Match

Post by MillionaireMentality »

You have to hold your funds their for 5 years or else they claw back the match.

What happens to the match in the event of insolvency within the next 5 years?

Does the match get clawed back in that event?

A lot can happen in 5 years.
tj
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Re: Robinhood 3% IRA Match

Post by tj »

MillionaireMentality wrote: Thu Apr 04, 2024 7:58 am You have to hold your funds their for 5 years or else they claw back the match.

What happens to the match in the event of insolvency within the next 5 years?

Does the match get clawed back in that event?

A lot can happen in 5 years.
I don't see how they can claw back money out of people's accounts who conform with the terms and conditions of the offer. That is unprecedented.
Last edited by tj on Thu Apr 04, 2024 1:43 pm, edited 1 time in total.
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Re: Robinhood 3% IRA Match

Post by HMSVictory »

Bonus for me would be about $18,000; but momma warned me many years ago that there is NO free lunch.

I'll pass and keep it all at Vanguard. Something doesn't sit right about this with me.... but what do I know!
Stay the course!
tcrez
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Re: Robinhood 3% IRA Match

Post by tcrez »

How does this program play with the Backdoor Roth IRA method if you transfer your Pre-tax 401k into a Traditional IRA?

I’ve done Backdoor for many years and had a 0 balance in my Traditional IRA. Now I will have a massive balance if I roll over my Pre-tax 401k into my Robinhood Traditional IRA.


Can I still somehow do the Backdoor conversion? For example, can I make the annual $7000 nondeductible contributions to an empty Traditional IRA somewhere else over 5 years and then after the Robinhood 5 year holding period ends, roll over into my employers Pre-tax 401k and then do the Backdoor Traditional IRA conversion (using the contributions from the 5 years) to Roth. The key is to have a 0 balance in all of my Traditional IRAs at the end of the year so I don’t get with the pro-rate rule.
tcrez
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Re: Robinhood 3% IRA Match

Post by tcrez »

runr wrote: Wed Apr 03, 2024 3:32 pm
tcrez wrote: Mon Apr 01, 2024 5:58 pm My RH account was deactivated years ago because I transferred everything out. I want to try RH again to get the 3% match on IRAs.

I tried creating a RH using a new email address but it associated me with the old one (probably due to the SSN) so I was blocked from doing so.

I went into the account settings and sent the reactivation request. Now it says they're reviewing it. Has anyone done this and how long did it take?

Anyone have any other ways to get a new account?
I did that as well, after 2 business days I I/M them to manually reactivate account, in which they spoke to the back office, 1 hour later it was reactivated.
I got a message from support saying the reactivation will take 5-7 business days. 2 business days later it still isn’t back. Can I ask them to expedite this.
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Re: Robinhood 3% IRA Match

Post by whodidntante »

Leesbro63 wrote: Thu Apr 04, 2024 6:17 am
whodidntante wrote: Wed Apr 03, 2024 9:09 pm
runr wrote: Wed Apr 03, 2024 7:41 pm Wondering if anyone is using there spending account?
Is there a bonus? :P
What is their "spending account"?
No idea. I'll look once there is a bonus.
Bobby206
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Re: Robinhood 3% IRA Match

Post by Bobby206 »

nalor511 wrote: Thu Feb 22, 2024 3:54 pm Let's not lose focus folks, this thread is not about SIPC scenarios and edge cases, it is about the RH 3% match offer. And it's already 20 pages
It seems to me all of the other issues are very relevant in why someone would, or would not, want to take advantage of the 3% offer so seems pretty focused to me.
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Re: Robinhood 3% IRA Match

Post by Minty »

HMSVictory wrote: Thu Apr 04, 2024 8:23 am Bonus for me would be about $18,000; but momma warned me many years ago that there is NO free lunch.

I'll pass and keep it all at Vanguard. Something doesn't sit right about this with me.... but what do I know!
Anyone who really believes there is no free lunch should avoid Vanguard like the plague. The contention is that Jack Bogle made the funds own the company to keep costs down, and by making index funds available at low prices, Mr. Bogle chose to wind up a multi-millionaire instead of a multi-billionaire. I myself buy that story, but I admit on its face it seems very, very, improbable. Hard to imagine that a charity for the affluent would or could exist.
Core Four w/ nominal bonds & TIPS. Refi Rampage: Purchase: 3.875% 30 -> R1 3% 20 -> R2 2.375% 15 -> R3 1.99% 15 -> R4 1.875% 15
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Re: Robinhood 3% IRA Match

Post by sycamore »

MillionaireMentality wrote: Thu Apr 04, 2024 7:40 am
sycamore wrote: Wed Apr 03, 2024 4:48 pm
MillionaireMentality wrote: Wed Apr 03, 2024 3:00 pm 1) Can you withdraw the money from current Roth IRA if its funded via a backdoor conversion and send to another Roth IRA without any penalty? My understanding is the converted money is subject to a 5 year withdrawal rule.
"to another Roth IRA" - please clarify to avoid misunderstanding.

Do you mean another Roth IRA at Robinhood? I wonder why you'd bother doing this?

Or do you mean another Roth IRA with a different custodian?
I meant withdraw my Roth IRA money at Fidelity to send it a Roth IRA at Robinhood
No penalty for doing a transfer.

It helps to use the right terminology. A transfer is not a distribution or withdrawal.

Use Robinhood's "account transfer" to get your assets from the Fidelity Roth IRA to Robinhood. This will be processed using the ACATS system.

Do NOT withdraw money from Fidelity Roth IRA and deposit it in your Robinhood Roth IRA. Doing such a thing is possible but not advisable for various reasons.
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Re: Robinhood 3% IRA Match

Post by whodidntante »

Minty wrote: Thu Apr 04, 2024 11:28 am
HMSVictory wrote: Thu Apr 04, 2024 8:23 am Bonus for me would be about $18,000; but momma warned me many years ago that there is NO free lunch.

I'll pass and keep it all at Vanguard. Something doesn't sit right about this with me.... but what do I know!
Anyone who really believes there is no free lunch should avoid Vanguard like the plague. The contention is that Jack Bogle made the funds own the company to keep costs down, and by making index funds available at low prices, Mr. Bogle chose to wind up a multi-millionaire instead of a multi-billionaire. I myself buy that story, but I admit on its face it seems very, very, improbable. Hard to imagine that a charity for the affluent would or could exist.
In my opinion, Mr. Bogle was not built to be a billionaire, anymore than the other multi-millionaires I know are. Which is fine. I'm not built for it, either.
tj
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Re: Robinhood 3% IRA Match

Post by tj »

tcrez wrote: Thu Apr 04, 2024 9:18 am How does this program play with the Backdoor Roth IRA method if you transfer your Pre-tax 401k into a Traditional IRA?

I’ve done Backdoor for many years and had a 0 balance in my Traditional IRA. Now I will have a massive balance if I roll over my Pre-tax 401k into my Robinhood Traditional IRA.


Can I still somehow do the Backdoor conversion? For example, can I make the annual $7000 nondeductible contributions to an empty Traditional IRA somewhere else over 5 years and then after the Robinhood 5 year holding period ends, roll over into my employers Pre-tax 401k and then do the Backdoor Traditional IRA conversion (using the contributions from the 5 years) to Roth. The key is to have a 0 balance in all of my Traditional IRAs at the end of the year so I don’t get with the pro-rate rule.

I don't see how you would accomplish what you want to accomplish. Having a separate IRA somewhere else doesn't make any difference at all.
MillionaireMentality
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Re: Robinhood 3% IRA Match

Post by MillionaireMentality »

SJR wrote: Wed Apr 03, 2024 8:15 pm
MillionaireMentality wrote: Wed Apr 03, 2024 3:00 pm
2) Our largest holding in our Roth IRAs is FZROX so we will need to sell those funds to move over to Robinhood. Any special considerations or concerns here other than being out of the market for the few days it takes to complete the rollover?
You can place a sell order with a trader by phone right before the market close and simultaneously have the trader purchase the equivalent ETF against the value of the sell order. Fidelity will allow you to leverage up to 90 percent of the current value of the sell order for that purpose and will waive their trading fee. You can then trade the remaining 10 percent online at the market open the following morning.

That's as close as you can get to not being out of the market. Then proceed to initiate the transfer to RH.
I just tried this with Fidelity customer service but they said the 90/10 method does not work from mutual fund to ETF and they were unable to process my request.

For reference, here are the positions I tried to exchange:
FZROX > VTI
FTIHX > VXUS
FXNAX > BND
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Re: Robinhood 3% IRA Match

Post by placeholder »

HMSVictory wrote: Thu Apr 04, 2024 8:23 am Bonus for me would be about $18,000; but momma warned me many years ago that there is NO free lunch.
I have been getting transfer bonuses from various custodians since 2008 or so and the free lunch has been very nice including the 5k I got from public.com last year.
veggivet
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Re: Robinhood 3% IRA Match

Post by veggivet »

Many on this board who have transferred 7 figures to RH haven't received any free lunch...more like a 7 course gourmet tasting dinner😉
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Re: Robinhood 3% IRA Match

Post by placeholder »

tcrez wrote: Thu Apr 04, 2024 9:18 am How does this program play with the Backdoor Roth IRA method if you transfer your Pre-tax 401k into a Traditional IRA?
It doesn't as all iras with pretax amounts are aggregated for the pro rata calculation so any conversions would be largely taxable.
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Re: Robinhood 3% IRA Match

Post by placeholder »

Bobby206 wrote: Thu Apr 04, 2024 10:01 am
nalor511 wrote: Thu Feb 22, 2024 3:54 pm Let's not lose focus folks, this thread is not about SIPC scenarios and edge cases, it is about the RH 3% match offer. And it's already 20 pages
It seems to me all of the other issues are very relevant in why someone would, or would not, want to take advantage of the 3% offer so seems pretty focused to me.
All of these issues are present with every custodian so anything with robinhood is somewhere between speculation and fear mongering.
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